Current Affairs Quiz-September, 2020

Notes:
Funds above Rs.7,00,000 sent abroad under RBI’s Liberalised Remittance Scheme would be subjected to 5% Tax Collection at Source.
This is under the Finance Act 2020 and would come in to force from 1st October 2020. On payments above Rs.700,000, the TCS will apply on the amount above this threshold. The TCS is not applicable for buying a tour package.

Notes:
In order to boost applied research and innovation in MSMEs and start-ups, the Atal Innovation Mission of NITI Aayog has launched “ARISE ANIC”.
ANIC stands for “Atal New India Challenges” and ARISE stands for “Applied Research and Innovation for Small Enterprises”. The programme is to be driven by ISRO along with 4 ministries namely Ministry of Defence, Ministry of Food Processing Industries, Ministry of Health and Family Welfare, and Ministry of Housing and Urban Affairs.

Notes:
India and China have recently agreed on five points regarding the situation on the Line of Actual Control (LAC).
On the side lines of the Shanghai Cooperation Organisation (SCO) meet in Moscow, the External affairs Minister S Jaishankar and his Chinese counterpart Wang Yi had strategic talks which focussed on Disengagement of troops and easing of tensions.

Notes:
Indian technology major Infosys has announced to acquire the European firm GuideVision.
Guidevision is one of the largest service sector enterprises in Europe, which is into service management consultancy specialised in offering strategic advisory. The acquisition agreement would cost Infosys up to 30 million Euro, which includes earn outs and bonuses.

Notes:
UN Day for South- South Cooperation is observed every year on September 12.
South-South cooperation is a manifestation of solidarity among countries of the South which aims to attain various development goals. It marks the 42nd anniversary of the 1978 adoption of the Buenos Aires Plan of Action for Promoting and Implementing Technical Cooperation among Developing Countries.

Notes:
Social media Major Facebook has partnered with the leading edu-tech platform Coursera, to launch Social Media Marketing Professional Certificate.
As per a joint official release of the two companies, under the five-course program, learners are trained in social media marketing including Creating impactful content, Protecting user data. The learners are made ready for related jobs with top employers.

Notes:
The new Banking Regulation (Amendment) Bill, 2020, introduced by the government empowers RBI to restructure Cooperative banks.
The bill was tabled on the first day of the Parliament’s Monsoon Session by the Finance Minister Nirmala Sitharaman. The bill which came in the form of ordinance was earlier withdrawn. Under this amendment, the Reserve Bank of India can restructure distressed cooperative banks.

Notes:
The state government of Gujarat has signed a Memorandum of Understanding (MoU) with the Small Industries Development Bank (SIDBI).
Under this deal, the state aims to increase self-reliance and provide capacity building and market support to the 35 lakh Micro-small-medium enterprises (MSMEs) of the state. Earlier, Rajasthan had partnered with SIDBI to develop MSME ecosystem.

Notes:
A draft of Electricity (Rights of Consumers) Rules 2020 has been prepared by the Ministry of Power for the first time.
As per the regulations, the time period to provide new electricity connection and modify existing connection in metro cities is not more than 7 days and in rural areas is not more than 30 days.

Notes:
The 10th Meeting of the BRICS High Representatives on National Security was recently chaired by Russia.
It was held via video conferencing. India was represented by National Security Advisor (NSA) Ajit Doval. The meeting deliberated upon the issues related to strengthening political security and cooperation among the five countries.